Groupon CEO Andrew Mason fired
Groupon CEO Andrew Mason fired! The daily deal site has boosted founder Andrew Mason, after the company posted disappointing earnings.
Groupon reported a surprising loss on Thursday, causing the stock to drop nearly 25%. Investors have soured on the company and are questioning the daily deal business model.
Groupon creates value for consumers by destroying value for merchants. Consequently, many merchants are foregoing daily deal sites, thus hurting Groupon’s revenue.
After ditching Mason, Groupon shares bounced back 4% in after-hours trading. But is that just a dead-cat bounce for dying business model?